{"id":561364,"date":"2023-11-18T16:05:14","date_gmt":"2023-11-18T16:05:14","guid":{"rendered":"https:\/\/uniquehot.com\/?p=561364"},"modified":"2024-06-11T08:14:51","modified_gmt":"2024-06-11T08:14:51","slug":"failed-bearish-signal-could-send-bitcoin-to-85k-next-month","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/failed-bearish-signal-could-send-bitcoin-to-85k-next-month\/","title":{"rendered":"Failed Bearish Signal Could Send Bitcoin To $85K Next Month"},"content":{"rendered":"

Bitcoin recently gave a bearish signal, which ultimately failed to produce a meaningful pullback.<\/p>\n

Due to the technical failure, historical data suggests that in only a matter of a month BTCUSD could set a new all-time high and reach a target of $85K per coin. Here\u2019s why.<\/p>\n

Why Failed Bearish Technicals Produce Bullish Breakouts<\/h2>\n

In technical analysis<\/a>, certain patterns are considered characteristically bearish or bullish. For example, the ascending triangle is a typically bullish-leaning pattern, but only breaks upward 63% of the time. The other 37%, the pattern breaks down bearish.<\/p>\n

Because of the nature of how orders and stop losses are stacked on either side of a pattern\u2019s trend lines, a failed bullish pattern can be extremely bearish and vice-versa. Dissecting further, since the pattern was visibly bullish, it could have attracted more long-side positioning that is forced to unwind lower.<\/p>\n

Related Reading: Technical Analysis For Beginners: Learn How To Chart Crypto<\/a><\/div>\n

Recently, Bitcoin price gave a bearish TD9 sell setup on the weekly TD Sequential. However, no major correction followed. When this occurs, it often results in a sizable move in the opposite direction of the signal.<\/p>\n

More simply put, the failed TD9 sell setup could mean a massive move higher. And how high price could go and how fast might shock you.<\/p>\n

\"Bitcoin<\/p>\n

Could BTC reach $85K in four weeks? | BTCUSD on TradingView.com<\/a><\/pre>\n
Market Timing Tool Hints At Bitcoin Rally To $85K<\/h2>\n
The TD Sequential is a market timing indicator developed by Thomas Demark<\/a>. A TD9 setup or TD13 countdown is a specific sequence of candles that signal trend exhaustion.<\/p>\n
Back in 2020 when this same signal failed, Bitcoin blasted off to new all-time highs above $20,000 and then some. It rallied 143% in the four weeks following the signal and over 300% more in total when it was all said and done.<\/p>\n
Related Reading: Select This Chart Makes It Clear: Bitcoin Is Bullish This Chart Makes It Clear: Bitcoin Is Bullish<\/a><\/div>\n
If the same magnitude move followed this recently failed TD9 sell setup, Bitcoin price would reach $85,000 by the end of December. Another 300% beyond the current all-time high in BTCUSD would take the top cryptocurrency to over $200,000 per coin in total.<\/p>\n
In terms of lower prices, the indicator also provides TDST support and resistance levels. These levels rise and fall with each completed TD setup. This latest setup caused TDST floor price support to raise from $10,000 to $25,000, reducing the chances that BTCUSD ever trades below that price again.<\/p>\n
\n
In December 2020, after a failed TD9 sell setup, #Bitcoin<\/a> did another 143% in 4 weekly candles, pushing above former ATH resistance<\/p>\n
The same magnitude move would bring $BTC<\/a> to another new ATH at $85,000 before the end of the year<\/p>\n
Still doubt my thesis we’ll see ATHs in 2023? pic.twitter.com\/GwCXEaY1II<\/a><\/p>\n
\u2014 Tony “The Bull” (@tonythebullBTC) November 17, 2023<\/a><\/p><\/blockquote>\n
Tony is the author of the CoinChartist (VIP) newsletter<\/a>. Sign up for free<\/a>. Follow @TonyTheBullBTC<\/a> & @coinchartist_io<\/a> on Twitter. Or join\u00a0the TonyTradesBTC Telegram<\/a> for daily market insights and technical analysis education. Please note: Content is educational and should not be considered investment advice. Featured image from Shutterstock, Charts from TradingView.com<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"
Bitcoin recently gave a bearish signal, which ultimately failed to produce a meaningful pullback. Due to the technical failure, historical data suggests that in only a matter of a month BTCUSD could set a new all-time high and reach a target of $85K per coin. Here\u2019s why. Why Failed Bearish Technicals Produce Bullish Breakouts In technical analysis, certain patterns are considered characteristically bearish or bullish. For example, the ascending triangle is a typically bullish-leaning pattern, but only breaks upward 63% of the time. The other 37%, the pattern breaks down bearish. Because of the nature of how orders and stop losses are stacked on either side of a pattern\u2019s trend lines, a failed bullish pattern can be extremely bearish and vice-versa. Dissecting further, since the pattern was visibly bullish, it could have attracted more long-side positioning that is forced to unwind lower. Related Reading: Technical Analysis For Beginners: Learn How To Chart Crypto Recently, Bitcoin price gave a bearish TD9 sell setup on the weekly TD Sequential. However, no major correction followed. When this occurs, it often results in a sizable move in the opposite direction of the signal. More simply put, the failed TD9 sell setup could mean a massive move higher. And how high price could go and how fast might shock you. Could BTC reach $85K in four weeks? | BTCUSD on TradingView.com Market Timing Tool Hints At Bitcoin Rally To $85K The TD Sequential is a market timing indicator developed by Thomas Demark. A TD9 setup or TD13 countdown is a specific sequence of candles that signal trend exhaustion. Back in 2020 when this same signal failed, Bitcoin blasted off to new all-time highs above $20,000 and then some. It rallied 143% in the four weeks following the signal and over 300% more in total when it was all said and done. Related Reading: Select This Chart Makes It Clear: Bitcoin Is Bullish This Chart Makes It Clear: Bitcoin Is Bullish If the same magnitude move followed this recently failed TD9 sell setup, Bitcoin price would reach $85,000 by the end of December. Another 300% beyond the current all-time high in BTCUSD would take the top cryptocurrency to over $200,000 per coin in total. In terms of lower prices, the indicator also provides TDST support and resistance levels. These levels rise and fall with each completed TD setup. This latest setup caused TDST floor price support to raise from $10,000 to $25,000, reducing the chances that BTCUSD ever trades below that price again. In December 2020, after a failed TD9 sell setup, #Bitcoin did another 143% in 4 weekly candles, pushing above former ATH resistance The same magnitude move would bring $BTC to another new ATH at $85,000 before the end of the year Still doubt my thesis we’ll see ATHs in 2023? pic.twitter.com\/GwCXEaY1II \u2014 Tony “The Bull” (@tonythebullBTC) November 17, 2023 Tony is the author of the CoinChartist (VIP) newsletter. Sign up for free. Follow @TonyTheBullBTC & @coinchartist_io on Twitter. Or join\u00a0the TonyTradesBTC Telegram for daily market insights and technical analysis education. Please note: Content is educational and should not be considered investment advice. Featured image from Shutterstock, Charts from TradingView.com<\/p>\n","protected":false},"author":517,"featured_media":561367,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1119,1144,78790,6664,4524,76835],"class_list":["post-561364","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc","tag-btcusd","tag-btcusdt","tag-crypto","tag-xbt","tag-xbtusd"],"acf":[],"yoast_head":"\nFailed Bearish Signal Could Send Bitcoin To $85K Next Month<\/title>\n<meta name=\"description\" content=\"Bitcoin recently gave a bearish signal, which ultimately failed to produce a meaningful pullback. 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The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. 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